The (Robotic) Future of Canadian Life Insurance Advisors

May 27, 2015 at 9:14 AM / by Nick Joly

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Hi there, 

I read a great article recently on wealthprofessional.ca, Making friends... with ROBO-ADVISORS? Which really got me thinking on the future and landscape of Canadian Life Insurance Advisors. My colleagues at APEXA know that I'm pretty big on trend-watching... being an early adopter and all, and I'm happy to share with you the insight I derived from Wealth Professional's article. 

Making friends with... ROBO-ADVISORS brought to light the surgence of several new low-cost wealth management services in the past year. Opposing the traditional "paper-based" advisors, these services offer clients professional financial services such as portfolio management, rebalancing, as well as access to a real advisor (should the need arise) via phone, online chat or email. What's more? Clients can begin investing with as little as $5000.00 in assets, and can expect to pay as little as 0.35 to 0.50%. 

Early entrants to this niche of online wealth management services include companies such as shareowner.com, WealthBar, WealthSimple, NestWealth.com & Smart Money Capital Management, among others. 

While reading through the finer details, I found that I fell directly into the category of this conglomerate's target market. And, as a marketer, I have the advantage of a heightened sense of awareness to being marketed to! In an effort to reach an audience of early adopters between the ages of 25 and 40, this slew of companies will be competing for this generation's share of wallet, literally! 

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Nick Joly is SMarketing Coordinator at APEXA & LOGiQ3
Meet Nick


This particular niche market, where technology and wealth management collide, is likely to be very well received by potential Canadian investors. In an era where convenience is one of our generation's hottest commodities, many people value services that are simple, time-savings and accommodating to an on-the-go lifestyle. WP found that: 

"Over the last 15 years, people have gotten used to doing things from their laptop. What they don't want to do is make an appointment, drive to an advisors office and sit there for an hour."

So what does this mean for life insurance advisors in Canada today? Well, while we don't have a crystal ball, it is evident that the innovative strides companies like those mentioned above are taking, coupled with the low cost and time-savings offered, will definitely urge many advisors to shift their gears and try new approaches to servicing their clients and portfolios. Certainly a (rapidly changing) industry that will be interesting to keep an eye on! 

More importantly, how do ROBO-Advisors fit into the APEXA service? As we continue to count down to the official launch, our team will be keeping abreast of changes and new emerging trends in the Life Insurance market to ensure that we provide a service model that operates optimally. 

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Topics: Life Insurance advisors, Advice for Life Insurance Advisors, Life Insurance

Nick Joly

Written by Nick Joly

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